If, for a product, the quantity supplied exceeds the quantity demanded, - 3551

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UoPExpert

UoPExpert

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Request Description

If, for a product, the quantity supplied exceeds the quantity demanded, the market price will fall until

A.   quantity demanded equals quantity supplied. The market price will then equal the equilibrium price.

B.   the quantity demanded exceeds the quantity supplied. The market will then be in equilibrium.

C.   quantity demanded equals quantity supplied. The equilibrium price will then be lower than the market price.

D.   all consumers will be able to afford the product. 

 
Solution Description

If, for a product, the quantity supplied exceeds the quantity demanded, the market price will fall until